Calix, Inc (NYSE:CALX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Calix is a global leader in access innovation. Its Unified Access portfolio of broadband communications access systems and software enables communications service providers worldwide to transform their networks and become the broadband provider of choice to their subscribers. “

A number of other equities analysts have also recently issued reports on the company. BidaskClub cut Calix from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine raised Calix from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Northland Securities set a $7.00 target price on Calix and gave the stock a “hold” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $7.00 target price on shares of Calix in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Shares of Calix (NYSE CALX) traded down 3.54% during mid-day trading on Wednesday, reaching $5.45. The company had a trading volume of 313,146 shares. The firm’s 50-day moving average price is $5.01 and its 200 day moving average price is $6.24. The company’s market cap is $274.18 million. Calix has a 52-week low of $4.65 and a 52-week high of $8.10.

Calix (NYSE:CALX) last announced its quarterly earnings data on Tuesday, August 8th. The communications equipment provider reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.15). Calix had a negative return on equity of 30.33% and a negative net margin of 12.72%. The business had revenue of $126.12 million for the quarter, compared to the consensus estimate of $123.70 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Calix’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts expect that Calix will post ($1.21) EPS for the current year.

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Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Calix by 27.7% in the first quarter. Bank of New York Mellon Corp now owns 610,268 shares of the communications equipment provider’s stock valued at $4,424,000 after buying an additional 132,305 shares during the period. Trexquant Investment LP acquired a new stake in shares of Calix in the first quarter valued at about $134,000. American International Group Inc. increased its stake in shares of Calix by 7.1% in the first quarter. American International Group Inc. now owns 25,413 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 1,676 shares during the period. FMR LLC increased its stake in shares of Calix by 120.3% in the first quarter. FMR LLC now owns 220,731 shares of the communications equipment provider’s stock valued at $1,600,000 after buying an additional 120,531 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Calix by 9.4% in the first quarter. California Public Employees Retirement System now owns 134,500 shares of the communications equipment provider’s stock valued at $975,000 after buying an additional 11,600 shares during the period. 64.47% of the stock is owned by institutional investors and hedge funds.

About Calix

Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.

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